Bank of America allegedly froze the account of gun manufacturer American Spirit Arms, saying the company "should not be selling guns on the Internet," the company's owner, Joe Sirochman, alleges.
“My name is Joe Sirochman owner of American Spirit Arms...our Web site orders have jumped 500% causing our Web site e-commerce processing larger deposits to Bank of America. So they decided to hold the deposits for further review," Sirochman wrote on American Spirit Arms' official Facebook page on Dec. 29, 2012.
"...as you could imagine this made me furious…After countless hours on the phone with Bank of America I finally got a Manager in the right department that told me the reason that the deposits were on hold for further review," the post read. "Her exact words were…”We Believe you should not be selling guns and parts on the internet."
After initially flipping the "f**k out," Sirochman said he told Bank of America they have no right to make up their own rules and regulations regarding the online sales of firearms.
"[W]e are a firearms Manufacturer with all the proper licensing FFL (Federal Firearm license ), SOT and that we follow all Federal and All States’ rules and regulations on shipping Firearms and parts ..and that we are also Audited by ATF and Homeland Security on a regular basis," he wrote.
So far, Sirochman says just one-third of the companies Internet sales over a two week period have been released to the company. Needless to say, American Spirit Arms is looking for a new bank.
As CNSNews.com points out, "this isn't the first time Bank of America has targeted a customer involved in the firearms industry."
"McMillan Group International was reportedly told that its business was no longer welcome after the company started manufacturing firearms – even after 12 years of doing business with the bank," the report adds.